Gladstone Investment Co. (NASDAQ:GAIN) Plans $0.08 Dividend

Gladstone Investment Co. (NASDAQ:GAIN) declared a dividend on Monday, May 19th, investing.com reports. Investors of record on Thursday, May 22nd will be paid a dividend of 0.08 per share by the investment management company on Friday, May 30th. This represents a dividend yield of 6.44%. The ex-dividend date of this dividend is Wednesday, May 21st.

Gladstone Investment has a dividend payout ratio of 91.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Gladstone Investment to earn $0.94 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 102.1%.

Gladstone Investment Trading Up 1.4%

GAIN traded up $0.21 during trading on Monday, hitting $14.91. 159,854 shares of the company’s stock were exchanged, compared to its average volume of 135,308. The stock has a 50 day moving average price of $13.50 and a 200 day moving average price of $13.46. Gladstone Investment has a 1 year low of $11.42 and a 1 year high of $14.95. The firm has a market cap of $549.24 million, a P/E ratio of 7.77 and a beta of 0.86.

Gladstone Investment (NASDAQ:GAIN) last issued its quarterly earnings data on Tuesday, May 13th. The investment management company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Gladstone Investment had a net margin of 78.02% and a return on equity of 7.17%. The firm had revenue of $27.55 million for the quarter, compared to analyst estimates of $24.96 million. Analysts forecast that Gladstone Investment will post 0.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. LADENBURG THALM/SH SH restated a “neutral” rating on shares of Gladstone Investment in a research note on Wednesday, May 14th. Citigroup cut Gladstone Investment to a “neutral” rating in a research report on Wednesday, May 14th.

Institutional Investors Weigh In On Gladstone Investment

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in Gladstone Investment during the first quarter valued at $302,000. NewEdge Advisors LLC raised its stake in shares of Gladstone Investment by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 19,626 shares of the investment management company’s stock worth $262,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Gladstone Investment by 6.8% during the 1st quarter. Royal Bank of Canada now owns 75,638 shares of the investment management company’s stock valued at $1,010,000 after buying an additional 4,826 shares during the last quarter. Hedge funds and other institutional investors own 11.85% of the company’s stock.

About Gladstone Investment

Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.